Valdor Fiber Optics Inc.

Valdor Fiber Optics Inc.

December 04, 2006 15:52 ET

Valdor Reports Third Quarter 2006 Results

HAYWARD, CALIFORNIA--(CCNMatthews - Dec. 4, 2006) - Valdor Fiber Optics Inc. ("Valdor") (TSX VENTURE:VFO) is pleased to report its financial and operating results for the third quarter ending September 30, 2006. All amounts are expressed in U.S. dollars unless otherwise stated.

During the quarter Valdor's revenues increased to $241,469, as compared to $182,285 for the corresponding quarter ended September 30, 2005, as a result of an increase in sales of Valdor's new line of products and a general increase in business activity in the overall fiber optic industry. Valdor's net income was $1,769,342 as compared to a loss of $191,365 for the quarter ended September 30, 2005 due to a gain of $1,821,847 from the settlement of promissory notes payable and the write-off of certain accounts payable. Better cost control measures reduced quarterly expenses to $192,614 as compared to $239,381 for the quarter ended September 30, 2005.

"Valdor's sales for the final quarter of 2006 are expected to exceed $350,000. All indications seem to confirm that a new wave in the fiber optic industry is now upon us. New purchase orders are being received from Valdor's old established customers as well as from new customers. We are confident that the significant increase in Valdor's sales in the final quarter of 2006 is a strong indication as to the strengthening of the fiber optic industry going forward into year 2007," said Dr. Michel Rondeau, President and Chief Executive Officer of Valdor.

In the third quarter Valdor completed a non-brokered private placement for CDN$1,250,000. The proceeds from this private placement will be used for the expansion of the marketing and sale of Valdor's new line of fiber optic products and general working capital.

Contact Information

  • Valdor Fiber Optics Inc. - U.S.A. Operations
    Dr. Michel Rondeau
    President & Chief Executive Officer
    (510) 293-1212
    (510) 293-9997 (FAX)
    Valdor Fiber Optics Inc. - Canadian Headquarters
    Brian Findlay
    (604) 687-3775
    (604) 689-7654 (FAX)